Foxtons Group saw its share price bounce on Friday, but the estate agent stayed down 26% ahead of first-half results.
- Foxtons closed at 44.10p on Friday, rising 4.38%. The London Stock Exchange is open weekdays from 8:00 a.m. to 4:30 p.m. London.
- The shares are off 25.9% since January and down 29.2% over 12 months, trailing the FTSE 350 by a wide margin.
- Foxtons said Q1 lettings revenue climbed 5%, but sales revenue dropped 35%. First-half results are due July 30.
- UK mortgage approvals dropped to 56,200 in May, hitting their lowest level since December 2023. That puts estate-agent sales fees at risk.
Foxtons Group Plc (LON:FOXT) finished the week up 4.38% at 44.10 pence. The bounce hasn’t done much for the longer-term trend. Google Finance posted a last trade of 44.10p at 4:35 p.m. London time on July 3. AJ Bell reported Friday’s volume at 552,586 shares, with the company’s market cap around £130.4 million.
What stands out to investors is Foxtons’ slide versus the broader UK market. According to a July 3 London Stock Exchange/FTSE Russell update, Foxtons is off 25.88% for the year so far and down 29.21% over 52 weeks, even after Friday’s rally. FTSE 350 swings below are taken from the stated gap to the index.
| Period to July 3 | Foxtons price move | Implied FTSE 350 move | Difference |
|---|---|---|---|
| 1 day | up 4.38% | up 0.27% | up 4.11 pts |
| 1 week | down 2.22% | up 1.63% | down 3.85 pts |
| 4 weeks | down 2.22% | up 2.90% | down 5.12 pts |
| Year to date | down 25.88% | up 7.21% | down 33.09 pts |
| 52 weeks | down 29.21% | up 19.61% | down 48.82 pts |
This matters since Foxtons is trading more like a sales-cycle risk than a straight recovery play. Shares sit 5.9% off the 52-week low, still 31.8% under the 52-week high. The relative strength index came in at 45.09, according to the FTSE Russell sheet.
Foxtons’ Q1 update splits the business. The lettings arm now leads for the group, while estate agency sales fees weigh on results. Segment revenue share comes from figures in the official company update.
| Segment | Q1 2026 revenue | Change vs Q1 2025 | Share of Q1 revenue |
|---|---|---|---|
| Lettings | £26.4 mln | up 5% | 66.7% |
| Sales | £10.7 mln | down 35% | 27.0% |
| Financial Services | £2.6 mln | up 3% | 6.6% |
| Total | £39.6 mln | down 10% | 100.0% |
Chief Executive Guy Gittins said in April that “The Sales market remains subdued,” adding that lettings and financial services made up “more than two thirds of revenues.” Foxtons kept its full-year guidance the same, said it was aiming for at least £3 million in annualised savings, and noted that £1.5 million had already come from moving its headquarters. Investegate
The stock looks cheap compared to its track record, but there’s a reason for that gap. The FTSE Russell/LSE data gave it a 9.8x trailing EPS and a 0.9x book multiple, both sitting below the five-year median. Free cash flow yield ran higher than its five-year median.
| Metric | Current | 5-year median | Read |
|---|---|---|---|
| Price / EPS TTM | 9.8x | 14.5x | Trading under its 5-year |
| Price / sales | 0.8x | 1.0x | Lower than median |
| Price / book value | 0.9x | 1.1x | Below its book |
| Free cash flow yield | 8.81% | 6.73% | Above historical yield |
| Dividend yield | 2.65% | 1.46% | Higher than usual |
UK housing numbers are choppy. The Bank of England said net mortgage approvals for house purchases dipped to 56,200 in May, down from 66,000 in April and under the last six-month average of 63,300. The average rate for new mortgages edged higher to 4.22% from 4.08%.
Rightmove Plc (LON:RMV) reported that new seller asking prices dropped 0.6% in June to £376,191, marking the largest June fall in 14 years. The company also said buyer demand last month was 10% lower year-on-year. The average two-year fixed mortgage rate slipped to 5.07%, down from 5.18% a month ago.
Foxtons gets some support from its rental business, though London rents aren’t jumping. The Office for National Statistics reported UK private rents climbed 3.3% in the year to May, hitting £1,383, slowing from 3.5% in April. London saw annual rent inflation of just 2.0%, the lowest for any English region, but average rent there stayed highest at £2,294.
Foxtons has first-half results set for July 30, then a Q3 trading update on Oct. 22, according to its company calendar. The focus now is if income from acquired lettings and cost cuts can offset sluggish sales fees before the market decides the stock’s discount is deserved.
